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China March official services PMI rises to 53.8 from Feb's 52.7

Friday, April 1, 2016 - 09:16

[BEIJING] Activity in China's services industry expanded in March at a faster pace than in the previous month, an official survey showed on Friday.

The official non-manufacturing Purchasing Managers' Index (PMI) rose to 53.8 in March, up from the previous month's 52.7 and well above the 50-point mark that separates growth from contraction on a monthly basis.

With manufacturing in a prolonged slump, services have been a crucial source of growth and jobs for China over the past year, and analysts have been watching closely to see if the sector can maintain momentum in 2016.